Lodestar Minerals Limited (ASX:LSR) advises that a recently completed review of historic exploration data over application E15/1813 (82 sq. km) has identified historic gold and nickel geochemical anomalies that represent priority targets for planned follow up exploration.
E15/1813 is located 10km west of Coolgardie in Western Australia and includes 5km of Coolgardie greenstone comprised of interlayered amphibolite, dolerite, carbonaceous shale and ultramafics. Remarkably, there is little evidence of systematic exploration in the tenement even though it is traversed by the Great Eastern Highway. LCT pegmatites identified south of the tenement at Londonderry and west at the Red Panda prospect, indicate district-scale potential within the Coolgardie greenstone.
There is no record of historic exploration for lithium within E15/1813 although Anaconda geological mapping (circa 1970) has identified pegmatites along strike from the tenement.
The Coolgardie West tenement was explored for nickel by Anaconda Australia Inc. up to 1971. Anaconda carried out low intensity exploration including geological mapping, reconnaissance sampling and drilled four percussion drill holes targeting a magnetic anomaly.
Resolute Limited carried out regional geochemical sampling for gold in 1996. The sampling identified a 1300m long, north east trending +6ppb Au anomaly west of the greenstone sequence.
The anomaly, which is coincident with a north east trending structure that controls the local drainage, reported a maximum 23ppb Au and has not been targeted by drilling. One traverse of drilling was completed at the 8 Mile prospect, with no anomalous results.
Heron Resources completed first-pass multi-element geochemical sampling over a distance of 3.5km along the greenstone. The sampling reported elevated nickel and chrome corresponding to ultramafic lithologies with a maximum 567ppm Ni, 75ppm Cu, 1420ppm Cr, 9ppb Pt and 15ppb Au. No follow up work was reported.
Lodestar will immediately commence a field programme leading to multi-element geochemical sampling over the greenstone and adjacent gold anomaly targeting gold, nickel and lithium potential using Ultrafine soil sampling to maximise the effectiveness of the programme in an area of extensive, shallow colluvial and alluvial cover.
The programme, extending along the north east trending greenstone contacts and the intrusive-structural contact between the Coolarli and Bali Monzogranite intrusion, will highlight areas to be targeted by a maiden drill programme.
For further information please visit: http://lodestarminerals.com.au/